Taiwan Turns to Public-Private Cooperation to Combat Virtual-Asset and Recovery Scams

Fraud losses in Taiwan totaled NT$89.326 billion in 2025, with bogus cryptocurrency investments accounting for a large share of the crime. Investors lacking cybersecurity awareness have exposed their private keys and then fallen victim again to recovery scams involving criminals posing as lawyers or law-enforcement officials. In response, the Taiwan FinTech Association is working with industry participants, prosecutors and police on a public-private framework to counter emerging financial crimes, strengthen public education and build a coordinated security network. The effort is crucial to maintaining a sound virtual-asset market.

At a forum held by the Taiwan FinTech Association in June 2026, BitoGroup founder Titan Cheng and Criminal Investigation Bureau investigation team leader Cheng-chi Hung analyzed emerging scam tactics. Hung said more than 70% of cryptocurrency scams involved bogus romantic relationships paired with fraudulent investment pitches. He said the keys to prevention were never disclosing seed phrases and cooperating with prosecutors and police on controlled in-person meetings to lure suspects into the open. BitoGroup has fully implemented the Travel Rule and KYC monitoring, established a joint prevention mechanism with police, and introduced safeguards including Passkey.